really be saying about that nation's troubled economy. is that ally in oregon? a safe haven rally. lori: bill on track for the best week in a month. tracy: to science in egypt as the muslim brothers calls for a march of millions. 600 people dead. it will have a live report from the region. it is craziness, but top of the hour, time for stocks as we do every 15 minutes. we head down to the floor of the new york stock exchange. stocks inching lower. >> reporter: back-and-forth action, one thing is clear. this has been a very tough week on wall street. let's start off well we are seeing right now. the dow jones industrials are down about 21 points at the moment, not too far off lows of the day. about 20 points off lows of the day. that is something worth watching a tough week, mixed economic

news. big picture, watching the housing numbers showing good news for multifamily homes. less so for fan vote -- single family homes which is less great news ultimately. the one week jarred, the fact of the dow is down over 2%. a lot of that, tough news from walmart. bouncing back a little bit. down about 2% for the week. and actually month today also down just over 2%. a lot of that really just coming from this week alone. our steepest weekly decline in about four months since april. lori: will see you in 15 minutes. tracy: fears of the fed tapir leaking into the bond market pushing the ten year yielded near two-year highs. my next guest says investors may be right to be concerned. quickly running out of excuses not to taper. the director of fixed-income strategy. nice to me you.

what is behind this "of yours? the fed is quickly running and of excuses not to taper. >> think of it as a check sheet where they're marking things off as to whether they should taper or not. as the day continues to come out is increasingly showing the economy will pick up in the second half, that's going to be there primary driver, the employment number. that's where talking about with that statement after the jobless claims in state. it's another one that they checked off to win the taper is pretty much coming. lori: we're seeing bonds continued a sell-off, the 10-year yield of a level of 284% . at 2 percent loss for stocks this week. the markets are adjusting

exchange. lori: is there a difference in view point? the so-called plunged into letties coming in after managing the tapering before the year is out? >> they have effectively severed cutting intake bring themselves already. i think the curve is too steep this point command the 10-year yield is to lie giving the tame inflation expectations and the environment and lackluster growth. the bond market wants to get ahead in the fact of the taper ahead of them. lori: you drama around this term tapir so easily. let's talk specifically what that means. if the federal reserve is buying $80 billion worth of bonds right now and it cuts the price level down to $65 billion, what does that mean effectively in what kind of impact does it have on the economy?

>> 45 billion of that is treasury's. 20 billion might be too aggressive. will probably say 20. that is effectively the fed not coming in and supporting the market. so you take 45 billion. that's less buying power. essentially it lifts the yield higher. thus the tapering. the scaling back of the 85 billion in purchases to 70 billion or 75 something like that. as the caper. the market's ability to adjust that is what you're seeing. the consternation we have been seeing is that readjustment, the three calibration as to this new paradigm. lori: to you think it has been effective? we're still looking a just rant 2 percent growth. you suggest the economy will strengthen, but this is the best that the economy can do. >> i think qe1, too, and the

first part of three which effectively ended the beginning of this year or effective. the extension has become an -- become less effective. lori: and i think higher rates will lead the economy and curb growth. >> it depends on how far and fast they go. higher rates by themselves is not necessarily a bad thing. if they're run up too fast combat can then created track which is like, wait a minute. the yield isn't too far too fast. mortgage rates are rising in applications a fallen. new home sales, not really low expectations when in the casino as opposed to multifamily homes. lori: thank you for the discussion. appreciate your time. tracy: the diminish in the turns. oil cutting the early gains. now on track to snap a five session streak of gains still near rendered -- 107 not per barrel. phil flynn is in the trading

pits of the cme. >> so many things. you have to buckle up today because we had everything. early we were climbing a wall of worry, worry about egypt and mother would impact supply. it or read about tropical storms and the direction that they may take over the weekend as far as production. some of those questions not totally answered, but at least we know at this point there has been no oil impacted by what is happening even with the increased violence in egypt. flick of the tropical storm, the latest storm track as a missing link of mexico. are actually seeing prices go down. it breaking news bringing his back. the refinery had a major glitch. lori: and then you have gold on the other side heading for its third straight gain. the call this morning is part of this.

>> that is absent in the part of it. the head thing, i think we're starting to believe that it may not be so bullish or bearish. if we start tapering a little bit, the stock market gets more questionable. bond yields to rise in gold looks like a much better investment. short-covering, if you're buying going into the weekend , and maybe gold could be an investment vehicle once again. lori: who would've thought. have a great weekend. >> thank you. tracy: along with gold prices on a tear, the miners are shore following suit. some of the biggest names, newmont mining, barrick gold, cold corporation, and silver, all up in excess of 10 percent this week alone, listed the gdx, the gold miner etf have more than 40% so far this week with gains upping the materials sector. it is one of the best performers among the s&p sectors for the week. lori: we were talking about this earlier.

violence in egypt continuing to what protesters are calling a day of rage with more than 600 reported dead this week alone. fox is correspondent is standing by with the latest. >> reporter: hello. the day has lived up to its name in the muslim brotherhood said it will be a day of rage. just wait for the shots to start running ads on the street. that is exactly what happened. we have video on the ground in cairo as things develop. tens of thousands of muslim brother had protesters started streaming into a central cairo square. we are told at least a couple of them tried to approach a police station. and number of those folks or armed, and that's been the gun battle began between security forces, the army command police who said they authorized the use of live -- live ammunition and deadly force to stop attacks on government buildings. on the other side you have the muslim brothers have firing back and thousands of other people, the crossfire. the latest numbers, a dozen dead

and hundreds, if not thousands injured. the curfew went into place in cairo. the latest reports, despite a heavy military presence, there are still people of protesting in continuing this fight tonight as agent to sense deeper into chaos. tracy: is terrible. stay safe. another surprise. the new report clamming the top secret agencies broken rules thousands of times. lori: and killing vote. marisa meyer. the debate. fighting back on wall street, but it's the parking lion that has china in an uproar. details next. ♪ when we made our commitment to the gulf, bp had two big goals:

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forget the canary in a coal mine, how about this for a metaphor on the chinese economy. jo ling kent on the barking that has the world scratching its head . they're trying to pass the sport got off as a lion in a zoo. the poor children. sometime -- sometimes you know the something's up an alliance starts barking. they swapped their african lion with a big fluffy mastiff. as if no one would notice. taken a line to a breeding center. families and kids quickly picked up on the poser and demanded the money back. it turns out that wasn't the only occurrence. reports say there was a white fox in a leopard exhibit and the domestic dog in the bullpen. this in issued a public apology enough of the families refunds. by the way, have to tell you, there was this a national fad of

diene paradox black-and-white to make them look like and as. shaving their hair. some this is prompted another discussion. a fake economy, one of the largest generators of not of kids. many have long questioned the authenticity of authenticity of the economic data, including the gdp figures. a top university professor at it -- wondered if china added $1 trillion to its economy by inflating the numbers. the shanghai composite surged over 5 percent in just a couple of minutes this morning. officials wouldn't say anything. the composite ended on friday. lori: this is just a symptom of the economic woes. tracy: taking a closer look at

some of the commodities chemical was not looking good. a lot of structural problems. we will be following this story. lori: clearly you can't believe their financial statements. my favorite line in the article was the shift of at least use the husky to pretend to be a wolf. if you're going to replace animals. tracy: i think there are going for the color. >> people will never know. as of the rethinking. >> die your dog to look like a panda. lori: my favorite children. tracy: on that note, we have to go down to our other favorite in the building. nicole petallides on the floor of the new york stock exchange. >> reporter: was take a look at the major market averages. the dow was down about 40 points , but we certainly have

some movers and worth taking a look at including pandora and jet blue airways. in a new high, up five 1/4%. also you have goldman talking positively about pandora, a buy rating from neutral which is great news. the stock is jumping. the one-year chared year to date app hundred 30%. jet blue. arco transportation, a lot of the airlines to doing well, but up two and a half% basically. you have an upgrade. another is out there tying a been making a deal here. and a network connection deal. british airways will be in a lot of the u.s. airports, boston of in an orlando. traveling abroad to europe in particular. this'll be great for both of those airlines, and the analysts liked a lot. tracy: the biggest things in luxury vehicles on display at

the concord on a show. resident on the lever adam shapiro live from the event in pebble beach to give us a preview. >> reporter: hello. the 603rd year with a celebrate cars. the new jetliner is tight. you talk about the million dollar vehicles, 92,000, top-of-the-line, 060 and just over four seconds. take a look get everything that is here. the most beautiful setting for car show in the world. you have a cadillac, the act on a luxury brand, in affinity introducing, it just went on sale last week. the q50. but then as he stretched down here toward the famous golf course and the water piquancy land rover, range rover, have become of the luxury brands that are represented. we will be talking with all the luxury brand makers. coming back, we will have an

exclusive with the head of design for infinity about a car that you can get that may revolutionize the way we drive, drive by wire steering coming to you from infinity. less than 40,000. he should you and $11 million furrier earlier this month. forty grander less like a bargain. lori: i suppose. i still would try to get that $11,000,000.1. how can you say no to that? i guess if you don't have a choice, but it's a six looking car. see later. tracy: breaking news. the lawsuit on dell has been dismissed. the court denying his push for speed. so this clears the way for a vote on september 12th. here we go again. september 12th up. we will see what happens. probably not too happy about

this. lori: the miami mansion that hit the auction block after initially being listed for $1,205,000,000. and is that then the sheik? silicon valley best dress ceo striking a pose. we will have that and some pictures ahead. ♪ right now, 7 years of music is being streamed. a quarr million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less.

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>> reporter: it is 23 minutes past the hour. and here with your fox news minute. the washington post is reporting in the document from a edwards noted reveals the tsa overstepped its authority member of privacy rules dozens of times every year since being given the new surveillance power by congress in 2008. the document also reveals the most significant violations included unauthorized use of information on more than 3,000 americans. in major league baseball commissioner announced plans to approve expanded instant replays during next season which will give managers extra time and should help dramatically reduce the number of incorrect calls

made. that plan is to be voted on by the owners in november. in a more helping out your fellow driver on the road in georgia. the new rule from the state road and tollway authority is officially banned drivers from paying the toll for the person behind them. some by -- drivers are reporting that there gets american tolls were actually being pocketed by the cashier's. as i your news headlines.ack to. lori: thank you. such a pleasure. ten bedrooms, 14 careful line swimming pool the infamous for such a mention in south beach which is valued at $125 million currently on the auction block. any word on potential buyers? >> the rumor is david in

victoria beckham are interested. a very strict, fragility agreement. you have to be a major high roller because multi millions of dollars can be this mansion. the location notion drive. lebron james is down the street shooting and nike ad. and right over there, you're on the sand. the password is, i've got money. loans of the. $25 million as a starting bid for next month's public auction of the glamorous and historic mansion in south beach. >> this property is one of the most iconic properties worldwide it is a real-estate melissa. >> and art is everywhere. this is the master suite bathroom with its beyond king size bed and opulent outpost. design system veteran house for himself and his famous friends like elton john mcdonough.

this is our room, which features the only bathtub. despite the ocean drive address, citing a sense of seclusion. the pool party potential, come on, 54 feet long, thousand imported mosaic tiles including 24 karat gold and my. outside his nonstop tourists taking photos. the mansion is infamous where in 97 serial killer shot and killed of the designer and his front steps. >> with all the interest you're getting from people that have high egos and a lot of money, the sky's the limit. >> reporter: on the roof, your own private observatory. the three story building. this is the courtyard. $3 million down payment of scourges to get in and then you have to prove him 40 million in capital ready to hand over a few of the winning bidder. back to you in new york.

lori: i think this to turn it into something similar to the getty villa. but an art collection and then open to the public. thank you so much. it will be a shame not to let everyone enjoy it. tracy: i'm with you. i've never actually. lori: it never swam in the golan pull? you just haven't lived. tracy: how about this, mayoress a meyers striking a pose and this month's september issue. in her first big print interviews and she took over yahoo in july 2012 should discuss the company, family, and the struggle to create a work life balance saying one night i looked up on one side, my god. it's midnight and i am advised and and i need to leave. yeah. she also talked a little shop. her style is risen more than 80 percent since she is taken of

the reins. i think she has been a little ambitious if you ask me. lori: sees the ceo. she should be. tracy: of family life balance thing. family life balance when you have 15 days. when you look at yahoo verses to will, her image, it's given galvanized on pop. showing a more per share. why the $100 stock may be the norm, and it is not just the price tag that is expensive. the warning signs and valuations next. tracy: is being called thish exam for wine lovers. the new have been confined in a bottle. we should you have led. lori: with the dow off about 40 points, a rough week for the market. looking at the components of the dow. there are some winners. back with more in a moment. [ shapiro ] at legalzoom, you can take care of virtually

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hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. lori: time for another edition of stocks now. it has been 15 minutes sense we last headed down to the floor of the new york stock exchange to check in with nicole. dell shares rocketing on icahn news that broke a minute ago. >> we're watching dell very closely. so many headlines pertaining to dell. this one this particular was about a court hearing as carl icahn was stepping in and trying to thwart what we were seeing from michael dell and silver lake but turns out the court cleared away for the september 12th buyout and saying that the dell board acted

in good faith, according to the delaware judge and saying that carl icahn and his gang could have made a topping bid. so this is not goodnessly for carl icahn and the stock is jumping a bit on the news. back to you. lori: thank you, nicole. tracy: pricey per share, huh. a record numbers of stocks are trading at $100 a pop. there's another reason that investors may be getting a raw deal. joining us the chief investment officer at barrick yard advisors. okay, stocks are expensive now but are they really? you know, stocks splits were like the really cool thing to do in the past and all it is accounting trickery at the end of the day. >> well it is more like slicing the pie. tracy: yeah. >> if you have, if you have a pie, no matter how many slices you make of it, it will not make it taste better or worse and certainly not going to make it grow. that's what stock splits have been all about. traditionally last 30 years

when, a stock approaches $100 that's when boards have decided to split the shares. but we're seeing less of that now and part of it is $100 is not what it used to be. tracy: right. i mean, does it have, you know, people like look at a stock like apple and at 400 hey, i would rather buy bank of america at 15 or whatever. it is under 20. it is cheap i could get more shares, are we looking at it that way these days? $500 for a share of apple, that comes with some cachet now, doesn't it? >> our mantra at the price you pay for any asset determines future rate of return is the biggest determinant. by price we don't mean absolute price like $5 or $5,000. we mean price in relation to its cash flow, its earnings and its underlying assets. a lost investors are confused about that and a stock that is selling for 200 could be much more undervalued than a stock selling for $2 for example.

tracy: that is the same, my argument with stock buybacks, we're cutting the pie up in a bun of different directions. again we're just playing with the numbers, it is still the same, it is still the same stock out there at the end of the stay. >> well, no, stock buybacks is a good thing. tracy: well -- >> ibm last 10 years has bought back 40% of the its share count and that significantly increased its earnings per share. tracy: we're just playing with the numbers, aren't we. buying it back to get price up a little bit. does it deserve it at end of the day this this is what makes it complicated for investors to decide. >> buying back stock is a legitimate form of shareholder enhancement whereas splitting the shares has nothing to do with shareholder enhancement. tracy: again, the board can make a decision to buy back stock for any reason under the sun, not because the stock is doing well but maybe to convince the public that it is for some reason or another. let's talk though about the richness of the markets here at

home. is it too rich for your blood? should people start looking overseas? >> well, that's what we think. the market has, in the short term, of course, we've been up like 40% the past two years. it would not be unusual for the stock market to take a step back now after having advanced so much, but looking longer term, american stocks by the metric that we use, are probably priced to generate only about 4 or 5% return over the next decade or some for us that is not very attractive. the good news you can look outside the u.s. and developed worlds of europe and singapore for example, where the potential return on those markets are probably twice what they are here at home. tracy: before i let you go, how do you do that? one thing to say invest in singapore. how do i invest in singapore? do i go buy an etf? do i buy company specific singapore stocks? >> we're big believers careful investment selection trumps random diverseification. so we would, my advice, do your

homework. identify the great companies that have selling at good prices. tracy: marti leclair, thank you for your thoughts sir. >> my pleasure. lori: ditching mortgages. why half of all homes sold are being purchased with cold hard cash. tracy: speaking of cold hard cash, adam shapiro is in pebble beach with a couple of ways that you could spend that cold hard cash. hey, adam. >> we told you about multimillion dollars cars. we told you about a $100,000 car. how about a car that has premium technology, state of the art that no other manufacturer has and luxury at the tip of your fingerprints for under 40 grand? this is that car. you will meet in exclusive the worldwide head of design for infiniti who is responsible for it coming up. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪

[ male announcer ] when the world moves... futures move first. learn fures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling;

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expectations. meanwhile second quarter non-farm productivity came in an annualized rate of .9 of a percent, beating estimate for .6. that is the latest from the fox business network, giving you the power to prosper.

tracy: so infiniti has a totally new design in the luxury market. the q-50. where did the q come from, i want to know? first to use drive-by wired technology. adam shapiro joins with us a special guest to explain the new technology and hopefully the q. >> that's right. the q-50 just went on sale in north america last week. that is the hybrid version. this is the v-6 gasoline powered version. you talk about drive-by wire technology.

the genius behind the design is head of global design for infiniti. he is joining us live for exclusive about this welcome back to fox business, sir. why use this drive-by-wire technology in your cars. i know airbus uses it. why in the cars. >> this is new technology used in the car. steer something not mechanically connected with the tires. so just electrically controlled. >> so when i turn the steering wheel on this vehicle there is excall impulse telling the tires to turn whereas on a traditional car you have linkages an metal but you still have that as redundancy. this is the future the you're the first to do this. >> yes, because you ca perfect balance of steering feel without disruption on the road surface. >> so you now have technological advancements that no other carmaker is working. you have luxury. you have it in a package for under $40,000. will that be something you will be able to maintain as this goes into mass production? >> yes, right.

it is going to be yes, electric. >> how fast does this car go? that is a something a lot of people want to though. >> the maximum speed? >> i don't know. i don't know exactly but it go -- >> no one will go faster than 75 miles per hour. last question for you, design on this car, where were the lines? what is the inspiration. >> infiniti has been always emotional. >> okay. >> we won't make it even athletic this time. >> it is, yes. >> much leaner and athletic. >> thanks so much for joining us. luxury and technology, $36,000 entry price on sale in mortgage nerc. back to you. lori: adam like you're a kid in a candy store out there. nice job, adam. lori: following the recent run-up of mortgage rates seem to have leveled off for the time-being but according to a new report by goldman sachs, more than half of all hopes sold

since 2012 have been financed without any mortgage at all. is this another positive sign for the housing market? let's turn to financial writer vera gibbons. always wonderful to see you, it has been a while. lori: thanks for making a shlep on a late summer day. >> i know. lori: before the crash it was 20% of the homes purchased with crash. what is behind the turn around? >> you have a lot of wealthy individuals want to get into the mortgage. they don't want to deal with the mortgage process, all verification, paperwork. you have a lot of foreign buyers coming in. people want to get in now while the getting is good. tracy: how does that help the first-time home buyer if? >> it makes it difficult for them. >> they will get outbid by the buyer with the cash. >> cash buyers are up against 69% of homes in june were up weapons multiple offers. that is just ridiculous and first-time homebuyer don't have wherewithal, bad credit, whatever the case may be you're locked out completely. if you have good credit, very

few contingencies, no contingencies, can make it work and you're in a much better position. tracy: if you're able to make a purchase with cash, does that give you leverage in opening bid to buy a home? >> if you go with cash seller will be much more interested in hearing from you. they want to close quickly and move the transaction along. you know, you have to do your research. if you're into buying a home in this market, start by looking at comps. zillow, i one of the sites i blog, find out for what is selling for what. a lot of sellers in this market are overpricing their homes because they're trying to capitalize on momentum they're building. tracy: you wonder if all-cash deals are fuel for the fire for congress to get rid of mortgage interest deduction all together? wealthy don't care about it. price out of half the time. it has been on the chopping block more than once if it goes away eventually. >> that's right. lori: interesting to me to wonder, we see the trends in cash buying and mortgage rates

although they're creeping up slowly, they're still historically low. we hear the president talking about this rehabilitation of the housing market one of the drivers of the economy. what is your take, vera on the health. housing market? >> recovery is underway. look at statistics. people are getting off the sidelines despite the fact that mortgage rates are rising. they're not expected to rise that much more ridiculously higher. in a lot of markets it's a mortgage-less recovery. interesting to see california markets, florida markets you areyou're seeing cash buyers come in. they're helping market and to boost home sales. they're up with home sales and even though mortgage activity is relatively neutral. they're moving things along,. lori: vera gibbons. >> thank you. lori: reader of zillow. >> thanks. tracy: let's go back down to the floor of the new york stock exchange. we have to check on the markets. jonathan corpina is with us right now.

we're down 40 or 50 points. this isn't bothering you all that much but what is going into weekend on friday? do you have concerns about egypt? taper fears at home? what will keep you up over the weekend? >> all that stuff. the market has been trying to hold on considering the long week we had and pressure on the market. right now, there's all the reasons in the world that investors are taking risk off the table. like you said on lead-in. is there direct correlation what is happening there to our markets here? not really, not yet. still very concerning to watch what is happening on tv. economic data coming out this week. next week will show us that the economy really isn't growing as fast as we've seen before. it will add pressure to our markets. normally heading into a weekend, especially the type of volatility we've seen in our markets, investors want to take as much risk off the table now leading into next week. that's why we continue to see the sell pressure here. tracy: we got a statement that egypt's muslim brotherhood is calling for a week of nationwide

protests and marchs. 600 already dead. you have to believe this could have some sort of a play at home, right, john? >> as this grows and escalates it will start branching out to other areas and other regions. that is where the concern will come into play. on top of that, where does support come in, where does help come in and. tracy: you got it. all intertwined. jonathan corpina. have a good weekend. >> thank you, tracy. lori: horrible images out of egypt. tracy: they keep coming. lori: forget about wine by the bottle or by the glass. how about wine by the app? tracy: we'll introduce to you technology to make it easier to find that hard to find restaurant wine at home. we'll see if it works. ♪ right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller.

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tracy: so have you ever been out enjoyed this incredible bottle of wine, realized how the heck am i going to get this? lori: when i was in your office a couple weeks ago throwing back -- tracy: very easy to find it in my office. there is app out there in case you're not in my office. we're joined by drink ceo, brad rosen. he will tell us how to use the app. this is called the shazam of wine and i love shazam. you take a picture of the label and tell me where to go find it, right? >> that is exactly, no. what you are doing, you take a picture of the label. we source it out to partners who will deliver it to your door. tracy: okay. so, how does it work as a business for you? are you profitable? >> we're not profitable yet. we're a relatively young company but we are generating revenue which is exciting of the model is a marketing agent model. what that means is, we acquire

the customers. people download the app. they take the photographs. we take the orders and then we farm that order out to the appropriate full filthment partners. with very a network of fulfillment partners. they package and they ship the wine. tracy: so i went out and i did it. where do you get the wine from and is there markup on it? there is two, four, six, bottle limit, right? you can't get, one, three or five. >> yeah. tracy: i did a bottle. as lori alluded to there are couple in my office. the price came out a little more expensive. is there a markup because of the service? >> we generally shoot for, for a comparable price to what you would find at retail. sometimes it is a little more. sometimes it's a little less. depends where you're located as well. generally comparable to retail. we try to make the shipping charge extremely reasonable. right now we're doing six or more bottles for free.

and below that only 9.99. which is quite cheap for shipping wine. lori: right. i sought a reverse search. what i'm looking for, my price range and have it send back some suggestions. frankly walking into a wine store is often times intimidating. i don't know where to begin. i don't have time to do research otherwise. any advice, any thoughts on that idea? >> yeah, absolutely. right now we bit off the shazam for wine use case because it is so painful, if you have a wine you enjoy and can't find later. we're going around the discovery, what should i buy and should be great given my palate? as you learn to what you drink, we'll be able to make great recommendations that you will always love the wine that you buy from us. tracy: yeah. the club w, i guess the online wine club model that you're going for. we're seeing a lot more of these wine clubs online, right?

you ask me a bunch of questions and figure out what i would like. i guess the idea is kind of lock everybody in on a monthly thing, right? you ship me monthly the wines that like. >> we could end up there. yeah. right now we're really focused on delivering wine that you love either because you drank it right in that spot or because we've learned your palate and can make the recommendation. we could go to monthly model. i'm not sure yet. lori: brad. >> i have to ask you about the name of your company and significance are the silly spelling, drink drync. >> my previous company was zing, zync, ended up getting bought by ebay. we were in italy and drinking wine and socializing this idea. lori: how many bottles did you have when you came up with the name? pretty cool idea. >> we had a few. we had a few. tracy: i can understand how the thought came to italy.

you taste stuff in italy and can't find it and perfect sense that you came up with after multiple bottles. brad, thank you very much. >> thank you. tracy: should go to tuscany and try what he is talking about. lori: forget the next hour, right, that is where we're supposed to be. tracy and i guide you through the next hour of fox business. hold on to your hats and glasses kids. media tycoon steve forbes. hopefully still planning to join us. tracy: after all this. lori: will tell us how the fed unchecked powers are hurting most americans. don't go anywhere. coming right back with much more on the markets. it has been the steepest one-week drop for the dow in four months. you know throughout history,

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tracy: we are still here. welcome back. i'm tracy byrnes. lori: and thrilled to be here i might add. i'm lori rothman. stocks on track for the steepest weekly decline in four months.

so, you have probably lost some money this week but misery likes company, right? so we're here to put it in perspective a little bit for you of the russell investments chief strategist steven woods says this is a buying opportunity. find out where he is putting his money now. tracy: gold surging more than 4% this week despite rising prices. investors snapping up rare gold coins at the world's fair of money. who would have thought. we're there to look at some of the most expensive money in circulation. lori: speaking of expensive, we're taking you to the nation's premier auto show in california with they are showing off the newest models. tracy: look at that i love old cars, man. top of the hour. time for stocks. nicole petallides on the floor of the exchange. nicole, down 36. not terrible but we can't get back up, huh? >> no, it is pretty tough to do so and it has been aweek on wal. last friday we closed at 15,

425. it has been a tough week on wall street where we lost the majority of gains we've seen, sorry, some distraction to my right. dow jones industrials is down one quarter of 1%. bank stocks showing gains. jpmorgan and bank of america doing well. as we noted it was down 2 1/2% for the week t was steepest weekly decline, over 2% for the dow jones industrials. steepest weekly decline. back-to-back losses. we had six weeks of gains and back-to-back weekly losses. it has been a tough two weeks. during two weeks that is the steepest drop we've seen in nine months. these two weeks alone if you just got into the market you're disappointed to see a 3% drop in two weeks. today is expiration day. volume may be a little heavier than usual and earnings and such we continue to follow as well. back to you. tracy: nicole will be here all day covering this. thank you, nicole. lori: don't forget to tip her.

we're joined by steve woods, and drew mattis, ubs chief deputy economist. thanks for joining us. steve, to you first, where do you see the stock market headed? >> we'll have volatility. choppy markets and there could be slight upside. valuations were getting fair if not fully valued last couple weeks. there has been a pullback. a lot of information to reassesses but equities look fairly valued. valuations didn't look overly expensive. you have fixed income which is becoming more competitive. that is why you need to diversify. equity space right now, i think if it fall as little bit mark, i think we're more interested. tracy: drew, the economy versus the stock market. the data is really, it is funky still, it is hard to read. consumer confidence, we're still, fourth straight month over 80. >> if it wasn't i wouldn't have a job. tracy: there's that. >> i call it the "sesame street" economy. everything is doing really well except for gdp. when i say stuff like that in

pittsburgh i get dirty stares because they're mr. rogers territory. tracy: there you go. >> everything is looking good except for the growth numbers. lori: unemployment is not looking so good. improving but i'm not impressed. >> the question how many people are actually looking for work in that number. i think the number overstates things. i think a lot of people in number are saying they're looking for work because the government requires them to be looking for work to get the check, employment insurance check. if you extend unemployment 99 weeks and give people two years to look for a job, guess what they will take two years to look for a job. lori: unemployment, we have to talk about the fed right, steve? this is the metric and target the fed is looking for to begin tapering and ultimately hiking interest rates. do you think the market is pricing this in? actually not just the stock market. we're looking for selloff in the bond market with the 10-year pushing 2.86%. >> tape everying will be priced in at these levels potentially

but certainly getting priced into the market. i think bernanke was very strategic and clear may 22nd. lori: was that a test back in may do you think, just the mention? >> no. i think he wanted rates to come up gradually and wanted markets to do it for him so he wouldn't have to do it. he got his wish. he meant what he said. a lot of levered positions got unwounded. books have been rebalanced. if you look at the taper that is accelerate or brake. the fed will ref the engine less aggressively they will not raise rates until the end of 2015. tracy: growth numbers are not there. in theory we need the growth numbers in order to start tapering. does that buy case for october. >> no i think september. market expected it. tracy: he committed. >> he put the markets through a lot. last thing you want to do promise the markets you will do something and pull back and have to do it again in december. tracy: like that whiney kid, you promised mommy. lori: i never hear that. tracy: that is like to your

"sesame street" analogy? >> you give people what you promised them and move on. the market already expects it. worst thing is do something the markets don't expect and tell the markets in december and data goes bad. lori: interesting, how the markets reacted and positioned themselves and really hasn't done anything. the fed has not actually taken its foot off the pedal. it is just the talk of it. >> also the federal government they're issuing less bonds. less for -- lori: supply is so important. >> might be more important to look at what the next chairwoman of the fed might think. next chairperson. what she might well be. i think she is odds-on-favorite. she is certainly well-qualified. she has excellent shot after being chairperson of the fed. she is looking unemployment rate with five handle. fed starting to remove liquidity, we're talking two plus years. tracy: quickly, talk about the market before we go? >> sure. tracy: good or bad.

where are we with that? >> the population never stops going up. people are having more jobs and we vane invested anything in housing for years. so the housing market will do okay for a while. we simply didn't spend money on housing. try to buy a new home right now? find one to look at. lori: you said you might see some value here at this point is. >> i think u.s. markets, small cap space, russell 2,000 sup 25% year-to-date. large cap, large caps coming in high teens. but also look at valuations and emerging markets, global infrastructure. globally diversified, multiasset strategy. valuations matter. you need to do a lost active management. stock picking in this environment will be more important. revenue will be more challenged. those companies that can pick numbers are going to do better. >> children's programing content, right, drew, invest there. thank you guys. steve wood, drew mattis. this was a lot of fun and very interesting. tracy: i do think the market is like a big ol' child. if you don't give it what it

wants it will cry and scream and -- lori: for some years it is absolutely addicted to stimulus. tracy: that's what i'm saying. >> wealth effect. tracy: like my kids ask for lollipops. lori: if you pop the bandaid, what will it look like? that's what we're trying to determine. that is what we bring the experts on. tracy: to rip off bandaids. u.s. district court judge demanding that federal reserve staffers come back from summer vacation to settle the issue of swipe fees. do you think they're going to do that? a settlement could affect at love bottom lines, yours, mine, lori. lori: my bottom? tracy: peter barnes has more on this story. peter, they're not coming back from vacation, come on? >> well the battle is engaged once again, tracy and lori, over these so-called swipe fees that retailers pay banks when customers use the debit cards. banks collected $15 billion of swipe fees from retailers last year. under financial reforms in 2010 congress ordered the federal reserve to cut the fees that

banks charge. so the fed did from 44 cents on an average transaction of $40 or so, to 24 cents. but retailers said that that was still too high. and they sued the fed in court. well two weeks ago they won. in a statement, the bankers called the decision, a windfall, especially for big chains saying quote, the price controls on swipe fees served one purpose, further lining the pockets of our nation's big box retail es at their own customers expense. but retailers say the decision will force the fed to cut fees even more which will benefit consumers. >> retailers compete aggressive every day for consumers that means lower prices. banks don't have to compete. that was the problem with swipe fees in the first place. that is what the law aims to fix. it aims to bring competition and transparency not marketplace. if banks competed like retailers we would have lower swipe fees. >> the judge in the case told the fed to tell him next

wednesday how it will revise the fees. he said fed officials quote can come back from nantucket, from wherever they are on vacation. they can come into the boardroom to make a decision. but that decision might be too appeal the judge's ruling. tracy and lori. tracy: fighting words. peter barnes, come back! did any of your bosses over the years say come back from vacation, we need you? lori: like very recently. more like, you can't take that vacation. gold surging more than 4% this week. did you like my smooth segue? tracy: i did. lori: our jeff flock at the world's fair of money with a look at some of the most expensive gold coins. jeff? tracy: that's cool. >> as well as the new 100-dollar coin they put on a football so i can pass the bucks. jason, very good. we'll pull the new $100 bill out of this case under guard. this is what it looks like.

to be debuted in circulation in october. we'll show it up close and personal on fox business network when we come by, back and show you lines for the cold coins. you can see all these people in line for gold. stand by.

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lori: oil pulling back after topping $108 a barrel today. phil flynn of price futures trading group joins us from the pits of cme. phil? >> the market was flip-flopping all day. it was a wall of worry. we were worried about tropical storms. we werewere worried about egypt and then about tapering and stock market and rising dollars. now a refinery. we're starting another rally. rbob futures which were tanking in reverse, they recently got higher on the day. they are coming back down right now. of course we've got crude and heating oil trying to get higher on the day right now. why the reversal late in the day? part of it is short-covering. part of it is people don't want to be short over the weekend. lori: market gyrations i hate that word but i can't think of another to describe all these

asset classes. gold headed for third consecutive gain. >> silver gold, can't make up my mind. they're both flying. they're rocketing. it is about safe haven and realization. remember a few weeks ago we were talking about the great short. we had a record speculative short position in this market below the cost of production. everybody was betting that we would go way below the the costf production. look at that physical demand. it is not going away. back on upside, short-covering and fear buying. back to you. lori: speaking of physical demand for precious metals, phil flynn setting us up beautifully for our next story here. >> a good one at that. gold is rising in value. so i guess goes the value of gold coins. jeff flock is at the world's fair of money convention in rosemont, illinois. gold coins are selling out, huh, jeff? >> tracy, lori, i am shocked by this. i guess i shouldn't be but look at lines here. huge lines.

i want to show you the coin more importantly. i want to show you what the coin looks like. gold buffalo, reverse proof. came out from the u.s. mint. it has been selling, it has been their best-seller, even though cost, $1640. each of these people ponying up at least that, 1640 when it came out. it is selling at 1690. i saw a guy with a sign earlier, i will give you 150 over what you pay for it. he is offering 200 over it? you're kidding. you guys are going to be making out. very nice. other thing i want to show you before we get away, new 100-dollar bill. there was a lot of controversy about it delayed. coming out october 28th. new benjamin. pictures up close and personal, with new security features. the new blue stripe that is on there. if you move it slightly you see that the image changes. there is also, i wrote this down so i wouldn't find it. a new water mark and there is also color-shifting ink on there and liberty bell.

maybe you see that it kind of shifts. the liberty bell appears and disappears. these $100 bills, they had to destroy, is it $30 billion worth because they had a printing error. this thing was delayed but it is coming out in october. amazing lines out here. this is a fun place to be. a lot of money here. tracy: we wonder why the government is in debt. they can't even print bills properly. jeff flock, thank you, sir. lori: time to check the markets. nicole petallides joins us once again from the floor of the new york stock exchange where we go every 15. hey, nicole. >> hovering around the session lows the vix, fear index has been to the upside. i want to look at retail flames in focus. jcpenney is down 2 1/2%. what is interesting, ackman has been ousted and off the board of jcpenney but obviously he still owns 18% of jcpenney shares. that is about 39 million shares.

so that is something that we're watching. how he can get rid of those. he will sell those in blocks, which is interesting and can only do so when he notifies the company. only five million at a time and can request those four times a year and company can say no. nordstrom came out with numbers and nordstrom is under pressure. sales were less than forecast and they're having to cut back. nordstrom is down 4%. two retailers today getting some down arrows. i was going to say hit hard, only nordstrom is down 4%. back to you. lori: thanks, nicole. we'll check back with you in 15 minutes of course,ing. tracy: coming up, media tycoon steve forbes will join us with a look how the fed's unchecked powers are hurting most americans. lori: check the dollar how it is trading now against major trading partners. it is stronger today with the stock market selling off and yields pushing higher you have a stronger dollar. gold is up as well. we'll be back in a moment. right now, 7 years of music is being streamed.

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>> at 21 minutes past the hour i'm lauren green with your fox news minute. violence continuing in egypt during what protesters are calling a "day of rage" to challenge the military government's cure few and state of emergency. more than 600 reported dead this week. over 4,000 injured.

"the washington post" is reporting that leaked document from edward snowden reveals the nsa overstepped its authority and broke privacy rules thousands of times every year since being given new surveillance powers by congress in 2008. the document rye revealed most significant violations included unauthorized use of information on more than 3,000 americans. major league baseball commissioner bud selig announced plans to approve improved instant replay next season. this give manager extra time to help dramatically reduce incorrect calls during games. the vote will take place by the owners in november. those are the headlines from the fox business network. back to lori and tracy. tracy: you would think they would voight for it. thank you very much. >> sure. lori: hot debates about the federal reserve and government spending. steve forbes says the roots of the fed's monetary policy can be traced back to world war i and

subsequent great depression. here so explain steve forbes, forbes media chairman and editor-in-chief. good to have you. >> thank you, lori. lori: your latest article in forbes is entitled, why uncle sam became a anti-freedom monster. subtle. >> i'm always noted for that, going back to the first world war which blasted away all the restraints grown up in the 19th century about government spending, about low taxes and with the great depression, feeling was free markets don't work even though government caused great depression. from then on government grew, to this day after0 years, no president has been able to scale back the u.s. government. it has gotten berg and bigger and bigger. lori: fascinating you can trace the current monetary and fiscal policy back to the turn of the century. i found it interesting to read about example of great britain back during that time. because of surrency, sterling tied to the gold. it had gold standard. >> right.

lori: you were able to have a very rich currency and less government spending it paved the way or opened the gaetz if you will to have the industrial revolution. is there any way to get back to the time period of incredible enterprise and innovation and just strong growth? >> i think it is. i think as people look back, when we see current policies manifestly not working today, for example, we're in the fourth year of recovery, median incomes especially for the middle class are still declining. federal reserve is opening practicing trickle-down economics. if we prop up stock market, eventually masses get riches from the stock market. that is absolutely untrue. what the fed deliberately done deprive good flow of credit to small businesses which are job creators and instead reward speculation, reward currency trading, reward higher commodity prices, reward bond buying at low levels of making the government easy to do its deficits. all things that hurt the economy and yet the fed says we're trying to help the economy.

doing exact opposite. lori: it is interesting, a lot of people would say, would counter and say, well, gosh without these extraordinary easy monetary policy, bernanke himself is legendary for being expert on era of the great depression our economy would have fallen off a cliff. two% growth is something we should be grateful for. >> we should be grateful when a baseball player its .250 instead of .350. this is subpar apologists. what the fed overlooked the federal loud markets to operate, credit to flow we would have much more vigorous recovery. the real movers of economy, entrepreneurs, small business innovators with have wherewithal to move ahead, do do things. lori: removing monetary stimulus that alone roiled markets. this is the $64,000 question what will happen when we're so addicted to stimulus? >> what is addicted to stimulus are a handful of traders, whether on the stock market or

on bond markets or currency. lori: sorry to interrupt you, steve, can the economy continue with rates going up, mortgages going up? do you think higher interest rates and higher energy prices to boot can continue? >> like rent control. rent control we know hurts housing. it inhibits housing for all pocketbooks you might say. by removing restraints what money really costs it will go to people who can put it to work. fine to say money is free, but hard entrepreneurs have hard time getting it. old seven yet union said health care was free but nobody can get it. lori: keynesian economics doesn't work. spending for stimulation, less, less spending, less government, is anything really proven? do we really know what the absolute recipe is for economic growth? >> i think history shows it. the brits showed the way. a sound currency so you can trust it like 60 minutes in an hour. that doesn't change each day. lower tax rates, so you don't

punish people who want to get things done, doesn't stand in the way of knowledge moving ahead and government intervention in the economy. look at real burden, obamacare and all that is uncertainty is imposing. 15,000 pages of regulation so far. lori: open up that can of worms. that is whole another discussion. >> but a burden on the economy. lori: obamacare with latest delays. out-of-pocket costs will go up. >> thank you, lori, appreciate it. lori: always a pleasure. tracy: that was good stuff. still ahead, find out why regulators are cracking down on your ability to buy alternative investment products. lori: before the brake let's look at some winners and losers on s&p 500. there are winners despite and other wise down day. we're back in a moment. friday night, buddy.

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♪ lori: 90 minutes to the clothes. take a look. weigh more read on the screen and green. hewlett-packard following home depot. there dow 30 losers. nicole petallides down at the exchange, down 42. this is just like summer doldrums. >> reporter: it has weeks back to back of losses. the dow is down about 350 points this week. back-to-back weekly losses are accounting for more than a 3% drop. has been a tough go of it, but it is the back-and-forth action and we have exportation. a little heavier than normal. look at pandora. right now six and a half% today. all-time highs of 2150 after

goldman put up by reading from a neutral. one of the reasons is because they're seeing the ad subscription committee and revenue growth looking good, subscription growth, the competition from apple does us in to be worried. that is already big in the stock price. good news. year to date up 130% this year. lori: thank you. we will see you in a bit. tracy: more investors are pouring their money into alternative investments. regulators are worried that they do not fully understand the risks. we're joined with more. >> here's what's going on. looking for yield, returns, bonds are doing nothing. what are they doing? going into an alternative investment, some 58 billion so far this year. take a look at these graphics. a ton of dough flowing into these investments. and you look at performance over time. it sort of mimics was going on

in the broader market but echoes of more loudly. the results are more pronounced. security regulators worry that people don't understand what they're getting into. short, long, investing in strange things that are to follow. >> led us into the financial meltdown. the secured mortgages. >> it's your fault. lori: i don't know. the first time. it's the same thing. you don't know what's in it. that's it, exactly. tracy: buyer beware. every single time, how much we the government to make decisions for us. >> i know what the government to make decisions for us. and i don't want a bunch of fancy pants hedge fund managers forcing down my throat a bunch of crap because they have no return. one month from now the biggest

market boost to the general public. of no return. why is this happening? because real investors don't even wanted to know more. it has been forced off on the general public. lori: you have to talk about that because it was part of what led to the meltdown. they are reading this crap double, aaa. when you say it's up to you, if you're doing your homework in your reading well. >> triple-a-rated quality stock. >> at the end of the day if it sounds too good to be true it is. i learned that when i was a kid. right? >> the point of trying to make, it is buyer beware it feels uneven. it is just uneven. a lot of different products. we can pretend like it's all okay, but the reality is that a lot of secrets are hidden behind

closed doors and we don't know them as the general public. i think that is what we found with the insider-trading scandal. there are a lot of disadvantages in terms of not just alternative investing. you could expand the discussion into trading. if you're an investor it has been a tough weekend is is getting worse. lori: but you have to invest. >> index funds and great houses like fidelity and charles schwab will help you. vanguard. that is where the majority of those belong, don't you? >> not with a hedge fund guy who has some alternative. >> something i can invest in if i want to. >> yeah. >> not everyone agrees of the at this network. some people think individual investors should not invest in individual stocks. lori: i want to own a piece of that. all right.

thank you. >> i don't think it would be dead. we are doing that tonight. lori: we are an hour and afghan. tracy: at 6:00 and 9:00 eastern right here on fox business unless the pull the plug and this entire network. we're going to get everyone in trouble. stocks go on track for losing weight. the second and row. we have to look abroad is likely to lead the market's next week. a toy store for the rich and famous. adam shapiro is there. >> i speak spanish. i think we're talking about luxury. the 1937 cadillac, the 67 eldorado. of course, the 55 could develop. that was luxury. when we come back cadillac is making a huge push. take a look at this, unveiled for the first time to the world last night.

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>> reporter: here's your fox business brief. general motors is recalling nearly 293,000 chevy crews cars. a defect that can cause a loss of the brake assist functions. the problem affects the 2011-12 model years. and they are where the 27 low-speed crashes happened, but no reports of injuries. a bid by activist investor carl icahn has been denied. take the company he founded private. the decision clears the way for a shareholder vote next month. the dow jones reports 01 time password as amended to help wealthy americans hide money overseas. pled guilty to a single count of conspiracy today and agreed to cooperate with u.s. prosecutors. the latest from the fox business network, giving you the power to prosper. lori: in

♪ lori: in unveiling a new concept car. it is called the el mirage, an homage to the eldorado. we love that car. he even -- he is in pebble beach with more on that and what else the automaker has up its sleeves. >> reporter: gile of anything with four wheels, but he does not love cadillac, especially this car. this is a concept that cadillac could possibly build. to discuss that with us, want to introduce you to the senior vice president from cadillac. joining us for an exclusive on fox business. thank you for being here. want to talk about this car and the possibilities that this really will become. it's a fully functional prototype. >> this car is actually beautiful and practical. we designed it with the idea that we could go and untested and see how customers react to it, so this is a car that could

be manufactured without too much trouble. >> i have seen two people here, but you and see where you going to build it. cadillac is roughly 13 percent of the luxury market in the united states. i know you want to grow that. have been bringing the demographic down. how do you convince the board directors to build it? >> with the board of directors are would have to show them that this would be a very profitable vehicle for shareholders and would help to build the brand. i think it very much would do that. this is in the style that built the cadillac brand. big, bold, technological marvel. so i feel like this is an opportunity for us to keep the cadillac momentum going. >> all have our photographers use some of the cadillacs you have out here in the sun. you're talking about of the demographics of come down, especially on the west coast which is crucial for car maker in the luxury market. having great success, who is buying at card?

>> doing exactly what we hoped it would do, bringing in their buyers into cadillac. the average age is ten years in rhythm we're used to, but 52 years old. have the buyers are women. the percentage of those buying cars on the west coast is up dramatically. a quarter of etf sales are going to be blue or 35 or younger. that is real progress for cadillac. >> that is huge progress. more design cues like we just saw in the cars, for instance, the concept, not a practical car apart on the road, but a beautiful park. you see some of the lines. will this prototype have lines show up in future models? >> i think absolutely. this vehicle has nuys curves, very long friend in the pace to it which will test your well. and we carry over our design cues. the real lamps are vertical.

>> longer than in the past. 205-inch wheelbase, more back to the tradition of along beautiful >> 205 inches long. has the viejo in it. weighs about 4,000 pounds. i think it's a look at the future where cadillac is going. >> around 42,000. if he couldn't live with this for round of price, 13 percent of the market roughly in the united states. think you have a lot more with it. >> i think there's a lot of momentum by and cadillac. our dealers would love to have a high end vehicle like this. stay tuned. a lot of good stuff coming. >> thank you for being with us. i'm going to leave it right here. come with me. i want to show you the most beautiful setting in the world for a car show. let the mountains. that is why the concorde is considered the most important car show to attend. lori: see what happens when you

ignore your queues? tracy: he was showing us that you. we had a cadillac riviera. that is the longest doors. i could not even open it. lori: i think my mother had a buick. tracy: let's talk about the market. it is a quarter till. time for stocks now. let's set down to the new york stock exchange. it's been a rough week with stocks of 2%. did you think the sell-off makes sense from the consolidation or is it overdone? >> i think it makes sense because we have been waiting for this timing to come. the market has had a nice run-up, and we have been discussing when the sell-off would come and what the catalyst would be. a few things, earning season, economic data, headlines coming of europe giving investors the opportunity to take some risk off. heading into next week continuing with the economic calendar, everyone is really waiting for more information to come out about tapering in

september. don't expect much really volatility of the next two weeks. we will see the market stay in this range for now and then come september that is when the action will start picking up. tracy: any help performing or underperforming industries are stocks that to your attention? >> as we get into earnings, you can see what has been mostly effective is the retail sector. the earnings and the forecast of retail sectors did not come out as well as was expecting. interesting to see at a back-to-school time when usually that sector and the companies within that sector rely on the part of the year. lori: your thoughts on these rising bond yields, will that be more troublesome? >> we're going to continue to see that correlation with the market trading on lows. bond yield moving higher. this risk on off trade. lori: thank you for your expertise. >> have a great weekend. lori: you, too. tracy: coming up, a week that many investors would like to forget. we're looking ahead.

stop looking backward. what you need to know to make some money. tracy: as we head to break i hear some of the winners and losers. facebook having a pretty decent day. gold commodities also up for a third day. there you have it. winners on the nasdaq. we're back after a short break. ♪ right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. e that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. from capital one...

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♪ lori: a week full of market-moving economic data comes to an end, but the ready for next week. the housing figures and a peek into the fed policy meeting. joining us with what you need to watch for, senior staff strategist.

before we get into all of that, what you think about the way the market has been acting? >> it tells us a lot. i always say, don't pay attention to the data. pay attention to the reaction to the data. will we do as traders is absorber data points, but in reality what this tells me is that markets are beginning to digest with reality the potential of tapering in the fact that it will come in september. i have about 90 percent chance of that happening. what is happening now is perfectly healthy and expected. no reason to panic. lori: i think? really good point about the crowd interpretation. we are following the herd. of a doing the right thing? >> the herd is doing what it's going to do. what you need to ask yourself a summons to you know ago against that. i you confident enough in the information you have in your thesis to go against it? in some cases some stocks may be

getting oversold. of this a just beginning to get sold off. in other words, consumer discretionary, i think that's really going to a bumper year. another you might want to watch out for are those companies that are highly leveraged. they will see. a lot of debt did you have to refinance in the coming years and interest rates are going higher, you might not be able to tell with a load. lori: before we get to your pick , it thant's? a lot more people. as a matter of fact, more into european that we have a long time. a lot of people talking about europe, china, and that the u.s. is getting very expensive. what are your thoughts? >> probably true. i would still stay away from china. there's a lot going on, and we will see more drawdowns. europe is interesting. the recession being over. at take a lot of that with a grain of salt.

the crowd believes that europe is getting better and therefore we will start to see money flow out of the u.s. stock market into europe. take a look it quality european stocks and don't forget, lot of the fluff that the u.s. stock market got because bonds were so bad is going to start to go away . at don't care what the ten year really does. will probably continue want. but we will see is people get less attracted to the dividend. europe and quality companies in focus on some ets or funds that split up your risk. lori: you can fight the fed and other heard. i love that. what you're saying is you can't fight carl icon. just ride that wave. >> he has been a needle and to encourage side. here's another one. carl icahn may not be doing anything beneficial for anybody. it really did make any difference, but it sent the stock of.

you know what, people are not believing. you will be there. he has his money in the game. he will bother to and cook until it does something. up until september 10th which is the whisper date, i think the stock continues hire. at that point i might sell before the event because that is what apple usually does. ec shares retraced. lori: ride the wave. before i let you yell, oversold. >> i love it. that company is off. firing on all cylinders. hard to change the way that we interface and buying so many little companies doing so many little things, they're putting themselves in almost every facet of our lives. plenty of upside. the prepared for volatility. lori: the craziest thing. it has become a verb that is part of our everyday life. you are great. we could talk all day. have a great weekend.

this is a little sad. rose dahlia, the co-founder of a global fashion and spain's richest woman has passed away. she was 69 years old. we understand she suffered a brain hemorrhage while vacationing on the island of majorca with her daughter according to spanish newspaper hoy. forbes was estimated her net worth at $6 billion, discovered her as the richest self-made woman in the world. dropped out of school when she was 11 years old to work as a seamstress. she and her husband turned their small clothing store into a $21 billion fashion empire. the couple divorced in 1997, remained a major stakeholder, and the owner. what a loss for industry. so few women ceos percentage wise.

fabulous. lori: coming up on countdown, we keep hearing that the taper is coming. much like the sky is falling. one of our next guest says has no fear. animal spirits will get us through this. okay. that in the latest up-to-the-minute market action straight ahead. my mantra? trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avd contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk

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"countdown to the closing bell" starts right now. ♪ >> i'm charles, and this is the last hour of trading. major indices mostly down as investors appeared to be readying themselves with the fed to begin tapering the bond buying program as early as next month. the highest level since july of 2011. interest rates a been rising. again, investors anticipating for anticipation really getting up over the fence investment strategy. they're beginning to untangle themselves to date the two agreed on terms to unwind the 18% stake. of course resigned from the board after losing a public battle to remove the interim ceo shares of j.c. penney are now